Menu
  • Latest
  • Prices
  • NFT
  • Coins
    • Bitcoin
    • Ethereum
    • Cardano
    • Ripple
    • Solana
    • Shiba inu
    • Dogecoin
    • Algorand
    • Litecoin
  • GEO
    • Ukraine
    • China
    • India
    • South Korea
    • North Korea
    • El Salvador
    • Switzerland
    • Nigeria
    • Russia
    • Latin America
  • Wiki
Language:

Coin Prologue
  • Latest
  • Prices
  • NFT
  • Coins
    • Bitcoin
    • Ethereum
    • Cardano
    • Ripple
    • Solana
    • Shiba inu
    • Dogecoin
    • Algorand
    • Litecoin
  • GEO
    • Ukraine
    • China
    • India
    • South Korea
    • North Korea
    • El Salvador
    • Switzerland
    • Nigeria
    • Russia
    • Latin America
  • Wiki
  • News

Russia’s Financial Watchdog Investigates 400 Crypto-Related Cases, Director Tells Putin

  • Ralph Smith
  • 30/06/2022
  • 2 minute read
Total
0
Shares
0
0
0
0
0
0

Russia’s Financial Watchdog Investigates 400 Crypto-Related Cases, Director Tells Putin

Rosfinmonitoring is investigating hundreds of cryptocurrency-related cases, the agency’s head said. Hundreds of thousands of Russians are participating in crypto trading abroad, the top regulator also reported to the Russian president.

Russian authorities open 20 criminal cases related to crypto assets

Russian Federal Financial Monitoring Service, commonly known asRosfinmonitoringIt is trying to unravel about 400 cases involving cryptocurrencies. The agency’s director, Yury Chikhantin, revealed the figure during a meeting with President Vladimir Putin.

The financial watchdog agency is working on them, along with representatives of the Ministry of Internal Affairs (MVD) and the Federal Security Service (FSB), the official noted. Law enforcement agencies have already initiated 20 criminal cases related to digital assets, he also noted.

Chikhanchin commented on crypto sales registered by his department and acknowledged that Russians continue to actively use expatriate-based cryptocurrency platforms. He elaborated.

This phenomenon continues to exist. And on two foreign sites, on two exchanges alone, hundreds of thousands of Russian citizens participate in transactions worth tens of billions.

Quoted by Russian business news portal RBC crypto outlet, regulators noted that these are not only payment and investment transactions; Yury Chikhanchin is convinced that some of these transfers are related to crime.

According to official data released earlier this year, the number of court cases related to cryptocurrency or crypto mining in Russia exceeded 1,500 in 2021. Of these, 62 percent were criminal cases, mostly related to drug trafficking. This figure represents a 40 percent annual increase.

Russia has yet to fully regulate the crypto space with its law “On Digital Currency,” which lawmakers are expected to consider in the fall session of the State Duma, the lower house of parliament. Most intuitions in Moscow agree that the ruble should remain the country’s only legal tender, but authorities are considering the option of allowing crypto payments for small settlements in international trade.

Image credit: Shutterstock, Pixabay, Wiki Commons

Country: Russia
Ralph Smith

Cryptocurrency geek. Met with Bitcoin and altcoins back in 2011, when the price of BTC was about 10$. Writing articles since 2014 to these days.

You May Also Like
View Post
  • 1
  • 2 min

Report: Korean Central Bank to Gain Right to Probe Virtual Asset Entities After Financial Regulator Drops Opposition

View Post
  • 3
  • 2 min

Financial Analyst Charles Nenner Warns About the End of the US Dollar and Its Consequences

View Post
  • 2 min

Global Reserves Held in US Dollars Fell to Less Than 50% — Official States It Has Become a ‘Toxic’ Currency

View Post
  • 2 min

White House Economist Warns China Wants to Weaken US Dollar’s Reserve Currency Status — Senator Says Biggest Threat Comes From Within

View Post
  • 2 min

Putin and Saudi Crown Prince Discuss Potential BRICS-Saudi Arabia Collaboration

View Post
  • 2 min

Wallet Bot on Telegram Adds Bitcoin Support to Web Interface Following Tether Integration 

Recent Posts
  • Report: Korean Central Bank to Gain Right to Probe Virtual Asset Entities After Financial Regulator Drops Opposition

    View Post
  • Financial Analyst Charles Nenner Warns About the End of the US Dollar and Its Consequences

    View Post
  • Global Reserves Held in US Dollars Fell to Less Than 50% — Official States It Has Become a ‘Toxic’ Currency

    View Post
  • White House Economist Warns China Wants to Weaken US Dollar’s Reserve Currency Status — Senator Says Biggest Threat Comes From Within

    View Post
Coin Prologue Coin Prologue
Made with ❤️Love in 🇺🇦Ukraine ©2021 — 2022

Input your search keywords and press Enter.